As of May 13, 2025, gold prices in Uzbekistan began to rise after a period of decline. The price of one troy ounce of gold reached 120 million soums, which indicates a return of interest in the precious metal from local investors and the jewelry sector.
At the same time, the downtrend continues in international markets. Global gold prices are declining amid the strengthening of the US dollar, as well as growing expectations for a possible increase in interest rates by the US Federal Reserve. These factors traditionally put pressure on the price of gold, reducing its investment attractiveness on a global scale.
Analysts emphasize that the current situation in the gold market remains ambiguous. Domestic price recovery may be driven by local factors, including industrial demand, seasonal fluctuations, and the actions of the Central Bank of Uzbekistan. However, high volatility at the global level requires increased attention and caution from investors.
Experts advise market participants to take into account short-term risks associated with the external economic situation, and carefully monitor the statements of regulators that may affect macroeconomic expectations and the cost of precious metals.
